State whether the following statement are true or false with reason :
In barter transactions, goods or services are purchased for other goods or services.
Answered Feb 05, 2023
This statement is True.
Barter means exchange of goods or services for goods or services. No money is involved in barter transactions.
Correct option is (b) import
This statement is False. In credit transactions, goods and services are purchased and sold for credit only. Credit means post-pone payments for a future date.
This statement is False. In a cash transaction, goods or services are purchase or sold for spot payments or receipts. No credit is allowed
(i) Goods (ii) property (iii) Non Recurring (iv) Contingent (v) Insolvent
(i) Single Entry System (ii) Statement of Affairs
Correct Answer - `[{:(3,2,5),(5,3,6),(2,4,3):}]`
Correct Answer - `23(1)/(2)%`
Correct Answer is Isolation
Correct option is (C) Isolation
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